The Cato Corporation Reports Sales Results for the Month and First Quarter Ended May 2, 2015; Provides Earnings Guidance for the First Quarter Ended May 2, 2015
For the quarter, the company reported sales were $281.6 million, a slight decrease from sales of $282.5 million for the first quarter ended May 3, 2014. Same-store sales for the first quarter decreased 3%.
The company now expects first quarter earnings per diluted share will be in the range of $1.08 to $1.10 versus $1.04 last year. The increase in earnings per diluted share is primarily due to lower incentive compensation expenses and a favorable tax adjustment.